Gamco Investors INC. ET AL Trims Position in Flowserve Corporation $FLS

Gamco Investors INC. ET AL lessened its stake in Flowserve Corporation (NYSE:FLS) by 6.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,257,436 shares of the industrial products company’s stock after selling 85,263 shares during the quarter. Flowserve comprises 0.8% of Gamco Investors INC. ET AL’s holdings, making the stock its 17th largest position. Gamco Investors INC. ET AL’s holdings in Flowserve were worth $87,241,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. North Dakota State Investment Board purchased a new position in Flowserve during the 4th quarter valued at about $317,000. Northwestern Mutual Wealth Management Co. increased its position in Flowserve by 1,300.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock valued at $14,967,000 after purchasing an additional 189,165 shares during the period. Thrivent Financial for Lutherans increased its position in Flowserve by 33.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,027,682 shares of the industrial products company’s stock valued at $140,729,000 after purchasing an additional 508,060 shares during the period. Pinnacle Associates Ltd. increased its position in Flowserve by 26.2% during the 4th quarter. Pinnacle Associates Ltd. now owns 32,265 shares of the industrial products company’s stock valued at $2,239,000 after purchasing an additional 6,700 shares during the period. Finally, Freemont Management S.A. increased its position in Flowserve by 196.5% during the 4th quarter. Freemont Management S.A. now owns 25,200 shares of the industrial products company’s stock valued at $1,748,000 after purchasing an additional 16,700 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research report on Friday, May 1st. Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, Robert W. Baird set a $98.00 target price on shares of Flowserve in a research report on Monday, February 9th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $87.70.

Flowserve Stock Down 0.0%

NYSE:FLS opened at $65.06 on Monday. Flowserve Corporation has a fifty-two week low of $45.11 and a fifty-two week high of $92.41. The stock has a market capitalization of $8.32 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. The company’s 50-day simple moving average is $76.65 and its 200-day simple moving average is $75.68.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business earned $0.72 EPS. The company’s revenue was down 6.7% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, equities analysts anticipate that Flowserve Corporation will post 4.05 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, June 26th. Flowserve’s dividend payout ratio (DPR) is currently 32.59%.

Insider Buying and Selling at Flowserve

In other news, Director Brian D. Savoy purchased 1,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at approximately $67,340. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.